Second Time’s the Charm: Oaks at Lakeway Sells for $114M

Stratus Properties Inc. succeeded in selling the Oaks at Lakeway retail center – to the same buyer that backed out of the deal in late 2016. This time, it was official, as the transaction closed Feb. 15, 2017. T.A. Realty, headquartered in Massachusetts, acquired the center at 1945 Medical Dr. in Lakeway, TX, northwest of Austin, through an affiliate named FHF 1 Oaks at Lakeway LLC.

Though the deal fell apart on November 15, “the parties remained in active negotiations following the termination,” according to a filing with the Securities and Exchange Commission. The transaction was completed on the same terms as the initial agreement.

Oaks at Lakeway is anchored by an H-E-B Grocery Co. store, and is expected to have 237,000 square feet of commercial space upon buildout. Other tenants include High 5 Entertainment Center, Torchy’s Tacos and Subway. Stratus owns close to 35 acres of undeveloped property adjacent to the Oaks at Lakeway, that is zoned for residential, hotel and civic uses.

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